\begin{tabular}{lcccc} \hline
 & (1) & (2) & (3) & (4) \\
VARIABLES & \Delta \% Manuf. Emp. 91-07 OLS & \Delta \% Manuf. Emp. 91-07 IV & Med. wage '07 OLS & Med. wage '07 IV \\ \hline
 &  &  &  &  \\
ln $\Delta$ IPW (1991-2007) & -3.857*** & -4.078*** & -28.770*** & -22.957*** \\
 & (0.275) & (0.289) & (5.892) & (6.174) \\
 &  &  &  &  \\
Observations & 380 & 380 & 369 & 369 \\
 R-squared & 0.342 & 0.341 & 0.061 & 0.059 \\ \hline
\multicolumn{5}{c}{ Standard errors in parentheses} \\
\multicolumn{5}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
\end{tabular}
